Report: Consumers Going Back To Spending Ways
That didn’t take long: Spending money is back and saving it is passe. Consumers’ interest in spending, not saving, is coming back with a vengeance as spending on consumer items has topped $10 trillion for the first time, even surpassing pre-recession levels, according to an analysis by market research firm Mintel. Consumer spending is expected to take off 3.6% this year, Mintel says. That beats the 15% growth between 2008 and 2013, which even includes a 1.5% fall in spending during the recession between 2008 and 2009.
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